Recoton Corporation and Lucent Digital Radio Form Alliance to Develop Digital Audio Broadcast Receivers.
LAKE MARY, Fla./WARREN, N.J.--(BUSINESS WIRE)--Aug. 31, 1999--
Recoton Corporation (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market: RCOT RCOT Rotary Club of Tucson (Arizona) ), a leading supplier under the Jensen(R) brand name for car and home audio products, and Lucent Digital Radio, Inc., a venture of Lucent Technologies (NYSE NYSE
See: New York Stock Exchange : LU) and Pequot Capital Management, Inc., have formed a collaboration alliance for the development and testing of In-Band On Channel (IBOC See HD Radio. ) Digital Audio Broadcast (DAB) receivers for consumers.
The two companies will begin test and development efforts immediately at both Recoton and Lucent facilities and field-testing
will follow shortly. Recoton has previously announced that it is creating and developing products for CD Radio (R), a leading Satellite Digital Audio Radio System (SDARS SDARS Satellite Digital Audio Radio Services ) company.
The Lucent Digital Radio IBOC system is designed as an end-to-end solution that will enable broadcast stations to seamlessly convert to an all-digital AM or FM broadcast scheme. Lucent Digital Radio recently conducted tests of its IBOC FM system on National Public Radio (NPR NPR
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The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) member station WBJB-FM. These tests were the first time that an IBOC system successfully passed a hybrid (both analog and digital) signal over a radio station's antenna and transmitter without affecting the host analog signal.
Robert L. Borchardt, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Recoton Corporation in making the announcement, stated "The radio listening experience is about to undergo a momentous transformation from analog to digital, and we believe that our work with Lucent Digital Radio will help move the industry into the digital era." He further commented, "Very few companies have the resources to undertake such an endeavor, and we know that both Recoton and Lucent's commitment to excellence offers us both a remarkable opportunity for our customers and ultimately the consumer."
"The consumer retail channel has considerable confidence in Recoton and the Jensen brand name, and we believe that their efforts in helping to develop IBOC receivers will help prepare the industry for this critical transition from analog to digital radio," said Suren Pai, President of Lucent Digital Radio. "We are very glad to have the opportunity to work with a leader in the consumer audio field, and look forward to developing high-quality, reliable IBOC receivers that consumers will want to buy."
According to the Consumer Electronics Manufacturers Association (CEMA CEMA Conveyor Equipment Manufacturers Association
CEMA Chef d'Etat-Major des Armees
CEMA Consumer Electronics Manufacturers Association
CEMA Canadian Egg Marketing Agency
CEMA Council for the Encouragement of Music and the Arts ), there are more than 600 million radios in the United States, or more than six per household. Radio is consumed by more than 235 million Americans on an average weekly basis of 22 hours. The digital radio era will enable new forms of content services and devices to deliver greater quality and quantity of programming to more listeners than ever before.
Lucent Digital Radio's IBOC DAB system is an enhancement to current analog AM and FM radio broadcasting systems. It will provide greatly enhanced sound quality for AM radio, CD-like quality for FM radio, as well as interference-free reception and innovative new data services.
Lucent Digital Radio draws on several patented Bell Labs digital audio and channel coding techniques that provide robust digital signal delivery in an impaired broadcast channel, including Lucent's Perceptual Audio Coder Perceptual Audio Coder (PAC) is an algorithm, like MPEG's MP3 standard, used to compress digital audio by removing extraneous information not perceived by most people. (TM) (PAC(TM)) technology, which delivers CD-like quality audio at 96 Kilobits per second (unit) kilobits per second - (kbps, kb/s) A unit of data rate where 1 kb/s = 1000 bits per second. This contrasts with units of storage where 1 Kb = 1024 bits (note upper case K). ; Unequal Error Protection, which prioritizes information based on its impact to audio quality; and Multi-Streaming, which provides for a more robust signal in an impaired channel.
The IBOC approach will allow broadcasters to introduce digital audio programming to listeners on their current dial positions using existing transmitters and antennas. IBOC DAB is both backward-and forward-compatible: current AM/FM AM/FM Amplitude Modulation / Frequency Modulation
AM/FM Auto-Mapping/Facilities Management receivers will still be able to receive the existing analog signals in the new system. When a station elects to turn off the analog signal in the future, IBOC DAB-compatible receivers will operate with the remaining all-digital signal.
Lucent Digital Radio, Inc., a venture owned by Lucent Technologies and Pequot Capital Management, Inc., is a company developing IBOC DAB technology for AM and FM broadcasting worldwide. For more information, visit the company's Web site at www.lucent.com/ldr. Lucent Digital Radio's IBOC system will be resistant to multi-path and other forms of interference that impair current analog transmissions which Recoton intends to utilize in their design and development of several satellite digital audio receiving devices, including a plug and play adapter, which will work through the cassette bay of existing car stereos, as well as a second adapter which works with 95% of existing car stereos. In addition, Recoton's mobile audio division will develop and market Jensen brand aftermarket 3-band (AM/FM/Digital) car stereo receivers.
This press release may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. Such statements speak only as of the date made. Please refer to the Company's current Form 10-K and other SEC filings.
Recoton Mobile Electronics is a division of Recoton Audio Corporation, a subsidiary of Recoton Corporation, a global leader in the development, manufacturing and marketing of consumer electronic accessories, loudspeakers and car audio products. Recoton's more than 4,000 products feature highly functional accessories for audio, video, car audio, camcorder, multimedia/computer, home office, cellular and standard telephone, music and video game products and 900MHz (MegaHertZ) One million cycles per second. It is used to measure the transmission speed of electronic devices, including channels, buses and the computer's internal clock. A one-megahertz clock (1 MHz) means some number of bits (16, 32, 64, etc. wireless technology headphones and speakers. They are sold under the AAMP AAMP American Association of Meat Processors
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AAMP Advanced Architecture Microprocessor (R), Ambico(R), Ampersand(TM), AR(R)/Acoustic Research(R), Calibron(R), Discwasher(R), InterAct(R), Jensen(R) Parsec parsec (pär`sĕc) [parallax + second], in astronomy, basic unit of length for measuring interstellar and intergalactic distances, equal to 206,265 times the distance from the earth to the sun, 3.26 light-years, or 3. (R), Peripheral(R), Performance(TM), Recoton(R), Rembrandt(R), Ross(TM), Sole Control(R), SoundQuest(R), Stinger(R), and STD (Subscriber Trunk Dialing) Long distance dialing outside of the U.S. that does not require operator intervention. STD prefix codes are required and billing is based on call units, which are a fixed amount of money in the currency of that country. (TM) brand names. Visit the Company's website at www.recoton.com and www.RCOT.com .
Lucent Technologies, headquartered in Murray Hill, N.J., designs, builds and delivers a wide range of public and private networks, communications systems and software, data networking systems, business telephone systems and microelectronic components. Bell Labs is the research and development arm for the company. For more information on Lucent Technologies, visit the company's Web site at www.lucent.com.
Note to Editors:
Lucent is hosting a media conference call concerning this announcement Tuesday, August 31, at 10:00 am Eastern Time Inside the U.S., the Dial-in Number is: 800-230-1085 The call will be recorded and replayed for beginning at 1:00 pm EST EST electroshock therapy.
electroshock therapy on August 31 and concluding at 12:00 am EST September 3
The telephone number to call for the replay is 800-475-6701; international callers should dial 320-365-3844. The access code is 467781